Marathon Oil appoints former Exxon exec as new CEO

Marathon Oil has appointed Lee Tillman as its new president and CEO, replacing Clarence Cazalot, who will vacate his post on Aug. 1. Analysts believe Tillman, who has served as vice president of engineering at ExxonMobil Development, will strengthen Marathon's global operations with his international experience. "Marathon has been slowly shifting into a more domestic shale story, but this hire confirms that the company will remain an international operator with large energy infrastructure projects and it is not going to morph into a shale pure play," said Pavel Molchanov, a Raymond James analyst.